Crypto market latest momentum (as of 2026.07.23 Asia session)

I. Real-time market conditions

1. BTC (Bitcoin)
Current price range: 65,600–66,000 USDT
Short-term support: 64,200; first resistance: 67,200, strong resistance 68,000
Market characteristics: after starting range repair from the lows, it has shaken off continuous declines; spot ETFs have been net inflow for 5 straight trading days, with total funds exceeding $600 million; institutional buy-side orders have returned in phases;
Market Fear and Greed Index: 33 (fear zone). Retail sentiment is relatively cautious, and there is a clear operational divergence between institutions and retail.

2. Mainstream Alt synchronized linkage

• ETH: around 1,930 USDT; short-term target 1,980–2,000; heavier pressure overhead;

• SOL: 78 USDT; XRP holding above 1.14 USDT;
Overall rule: BTC leads the market trend; altcoins rotate and diverge, with no broad-based market-wide rally; capital is concentrated in top coins.

II. Core heavyweight news (affecting medium- to long-term trend)

1) The U.S. “CLARITY Act” (the biggest policy variable)

The White House and the Senate have reached preliminary agreement on the bill’s ethical provisions, clearing major obstacles, with voting potentially taking place before the August congressional recess at the earliest.
New key rules: ban the President and federal officials from issuing or endorsing cryptocurrencies.
✅Positive expectations: if the bill is enacted, it will establish a U.S. crypto compliance framework and attract traditional large capital to enter;
⚠️Risks: Democrats still have disagreements over enforcement powers, so there remains a possibility that the vote fails.
On the day the news broke, crypto concept stocks such as Coinbase and MSTR surged, driving a BTC rebound.

2) Macroeconomic key events (the top priority)

The Federal Reserve’s rate-setting meeting will be held on July 28–29
Market pricing: an extremely high probability that rates will be kept unchanged in July; expectations of a rate hike in September modestly heat up again.
Logic: persistent high rates will continuously suppress high-risk assets like crypto; if they release signals of rate cuts, it will become a catalyst for a new round of major market moves.
Meanwhile, Middle East geopolitical tensions repeatedly disrupt oil prices and U.S. Treasury yields, continuously perturbing risk appetite.

3) ETF sector dynamics

BTC spot ETFs have ended a long stretch of redemption pressure lasting 8 weeks, and starting in mid-July, funds have continued to flow back;
Morgan Stanley officially submitted a Solana spot ETF application to the SEC; once approved, SOL will receive long-term compliant incremental capital.

III. Industry hot events

1. Stablecoin commercialization is accelerating: Hyundai Motor uses USDT to pilot cross-border trade settlement; Bolivia is considering including USDT in the official payment system, and stablecoin demand in developing countries continues to expand.

2. Robinhood’s public-chain launch keeps momentum; many Meme coins cluster there, and on-chain trading volume rises rapidly;

3. The on-chain AI track continues to heat up: BNB Chain has already deployed more than 200k on-chain AI agents, becoming a short-term capital speculation direction.

IV. Market consensus and risks right now

✅Bull logic:
Long-term whale holders continue to accumulate, ETF funds flowing back, expectations of a U.S. compliance bill, and waiting for the Federal Reserve to pivot in policy.
❌Bear risks:
The Fed keeps high rates, the bill vote fails, geopolitical conflicts escalate triggering global risk-asset selloffs, and sell pressure concentrates in overhead resistance zones—within a range, the market may see needle-like spikes that wash positions.

V. Key levels for short-term traders to watch

BTC
Support: 64,200 → 63,000
Resistance: 67,200 → 68,000